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Mega Millions Annuity Jackpot Analysis for North Dakota (Aug. 4, 2017 Drawing)

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The Mega Millions annuity jackpot is awarded according to an increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $323,000,000 would be for a resident of North Dakota, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money.  (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

State:

North Dakota

Drawing Date:  Aug. 4, 2017
Jackpot:$323,000,000
Federal Tax:  24%
State Tax:2.90%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,861,614$1,166,787$140,987$3,553,839
2$5,104,694$1,225,127$148,036$3,731,532
3$5,359,929$1,286,383$155,438$3,918,108
4$5,627,926$1,350,702$163,210$4,114,014
5$5,909,321$1,418,237$171,370$4,319,714
6$6,204,788$1,489,149$179,939$4,535,700
7$6,515,027$1,563,607$188,936$4,762,485
8$6,840,779$1,641,787$198,383$5,000,609
9$7,182,817$1,723,876$208,302$5,250,640
10$7,541,958$1,810,070$218,717$5,513,171
11$7,919,056$1,900,573$229,653$5,788,830
12$8,315,009$1,995,602$241,135$6,078,272
13$8,730,759$2,095,382$253,192$6,382,185
14$9,167,297$2,200,151$265,852$6,701,294
15$9,625,662$2,310,159$279,144$7,036,359
16$10,106,946$2,425,667$293,101$7,388,177
17$10,612,293$2,546,950$307,756$7,757,586
18$11,142,907$2,674,298$323,144$8,145,465
19$11,700,053$2,808,013$339,302$8,552,738
20$12,285,055$2,948,413$356,267$8,980,375
21$12,899,308$3,095,834$374,080$9,429,394
22$13,544,273$3,250,626$392,784$9,900,864
23$14,221,487$3,413,157$412,423$10,395,907
24$14,932,561$3,583,815$433,044$10,915,702
25$15,679,189$3,763,005$454,696$11,461,487
26$16,463,149$3,951,156$477,431$12,034,562
27$17,286,307$4,148,714$501,303$12,636,290
28$18,150,622$4,356,149$526,368$13,268,104
29$19,058,153$4,573,957$552,686$13,931,510
30$20,011,061$4,802,655$580,321$14,628,085
Total$323,000,001$77,520,000$9,367,000$236,113,000
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